Page 32 – Invest in Bahrain

Bahrain Delegation in Italy to Promote Investment Opportunities

Posted on October 9, 2017March 30, 2023 by edbuser

Delegates to hold high-level meetings with companies and investors

Manama, 9 October 2017: The Bahrain Economic Development Board (EDB) will participate in the first Italian Arab Business Forum in Milan, and in the Confindustria Assafrica & Mediterraneo forum in Rome, Italy from 11-13th October 2017. A high-level Bahraini delegation will showcase the investment opportunities and competitive advantages that Bahrain offers in the financial services, manufacturing, and tourism sectors. Participation in such business forums reflects one part of the EDB and other government entities’ efforts to attract investment, further economic growth, and create jobs in the local market.

The Bahrain delegation will include H.E. Zayed Bin Rashid Alzayani (Minister of Industry, Commerce and Tourism), H.E. Khalid Al Rumaihi (Chief Executive of the EDB), H.E. Dr. Mohammed Abdulghafar (Ambassador of Bahrain to France and Italy) and senior representatives from the private and public sector. During the forums, the Bahrain delegation will also hold bilateral meetings with Italian businesses and investors.

“Bahrain has held strong commercial ties with Italy since the early 1970s,” said H.E. Zayed Bin Rashid Alzayani, Minister of Industry, Commerce and Tourism. “Political leadership in both countries has played a key role in developing and strengthening these relations to meet common aspirations and goals. This visit is a perfect opportunity to further our relationship with Italy by promoting the current economic opportunities in Bahrain, as well as showcasing the ideal investment environment open to all industrial, commercial and tourism business activities and projects.”

Bahrain and Italy have been trading partners since 1973, with agreements between the two countries dating back to 2000. The countries have also signed two economic agreements relating to the protection of investments and equal treatment of anchorage and port taxes. In 2006, the Bahrain Chamber of Commerce and Industry signed an MOU with the Union of Italian Chambers.

“Bahrain offers investors a wide range of opportunities. For Italian investors in manufacturing for example, our strategic location in the middle of the Gulf, with easy access to the GCC market worth US$1.5 trillion, is especially attractive,” said the EDB’s Chief Executive, H.E. Khalid Al Rumaihi. “Bahrain and Italy enjoy close trade relations. Bahrain is home to more than 182 Italian commercial enterprises across various sectors, and non-oil trade between the two countries increased from US$361 million to US$367 million between 2015 and 2016. By participating in these forums we are able to promote the competitive advantages offered by Bahrain to international investors, in turn attracting further investments and creating diversified employment.”

-ENDS-

Notes to editors:

Further information:
Bahrain Economic Development Board
Tel: + 973 1758 9966
Email: communications@bahrainedb.com

About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.

Amazon Web Services infrastructure to boost business performance

Posted on October 4, 2017August 27, 2020 by edbuser

AWS, part of Amazon, provides cloud data storage to more than a million customers in 190 countries. It has just announced plans to create cloud infrastructure in Bahrain to serve the Middle East that will be operational by early 2019. The new AWS Middle East (Bahrain) Region will incorporate three Availability Zones, a means to ensure greater speed and reliability than through a single data centre.

Gulf businesses will now find it easier to take on the world. Via AWS’s cloud infrastructure, they will be able to run serious workloads (data processing, storage and sharing) in ways that weren’t previously possible.

With AWS’s servers and data centres close to regional businesses, this will give faster access through lower latency (the time it takes for data to get from one point to another) and lower costs.

Not just business friendly: environmentally friendly

AWS runs its business with minimal environmental impact. It selected Bahrain partly due to the Kingdom’s focus on delivering renewable energy, as well as a proposed 100 MW solar farm that will provide sustainable power for AWS. The Bahrain Electricity and Water Authority expects this to be online in 2019.

Bahrain and AWS: working closely together

AWS had already chosen Bahrain and the UAE to forge a Middle East presence and support its growing customer base. The company opened a sales office in Manama (as well as in Dubai) in January 2017, staffed with account managers, solutions architects, partner managers, professional services consultants and other functions.

Skills development

Bahrain is looking to build cloud computing skills in partnership with the AWS Educate programme to fast-track learning, with courses in cloud computing at the Bahrain Polytechnic and University of Bahrain.

At the same time, local accelerators and incubators, such as C5’s Cloud 10 Scalerator and 500 Startups, are working through the AWS Activate programme to help new businesses go global. These include OneGCC, Dubizzle, Fetchr and Opensooq.

In common with other Middle East countries, established Bahraini companies (and those represented in the Kingdom) such as Batelco, Silah Gulf, the United Arab Shipping Company, Al Moayyed Computers, du, Infonas and Zain, are moving to large-scale cloud storage with AWS to save money, enhance innovation and reduce time to market. Many of these businesses migrate to the cloud with help from members of the AWS Partner Network.

Bahrain government: showing the way

Bahraini government organisations are already advanced in using cloud technology to improve services to citizens for less. For example, the Bahrain Information & eGovernment Authority (iGA), which is responsible for taking all government services online, as well for as ICT governance and procurement, has launched a ‘cloud first’ policy.

In addition, the Bahrain Institute of Public Administration has cut costs by more 90% by moving its Learning Management System to AWS.

Comment from the EDB

H.E. Khalid Al Rumaihi, Chief Executive of the EBD, said: “AWS’s commitment to expanding its presence into the Middle East and North Africa (MENA) region, from Bahrain, is a major enabler for technology and data-driven business across the GCC. This will benefit global corporates, SMEs, entrepreneurs, and governments alike. The ability to store and share data at speeds the Gulf has never experienced before has the potential to help companies gain competitive advantage, allowing them to compete more effectively at a global level. Amazon Web Services is delivering the Middle East a world-class service. With such a young, technologically adept, and growing population, the Gulf is well positioned to drive innovation in mobile applications and digital services. I am very eager to see how our region’s entrepreneurs will make use of this exciting opportunity.”

How the AWS infrastructure will benefit Gulf companiesScalable
Businesses can quickly scale up or down based on demand

Great for start-ups
SMEs can innovate and experiment with fewer upfront costs

Pay as you go
Only pay for the data used

Flexible
Select the technology, programming language, and services you like to use.

Faster
Being close to the data centre means more effective operation

Cheaper
Achieve a lower variable cost in the cloud than you can get on your own

Crowdfunding takes Bahrain FinTech up a gear

Posted on October 4, 2017 by edbuser

New regulations released in August 2017 by the Central Bank of Bahrain (CBB) promise to enhance Bahrain’s position as an FinTech powerhouse.

The new regulations, which cover both conventional and Shari’a-compliant investment, enable small and medium-sized businesses in Bahrain and across MENA to raise capital through crowdfunding.

As a means of funding, of course, crowdfunding helps SMEs and start-ups fill gaps in lending and move ahead with developing products and solutions. In Bahrain, we regard it as a vital way both to encourage innovation and support our thriving ecosystem that already comprises more than 60 companies.

Flexible, easy and consistent

This is a prime reason why our ‘flavour’ of crowdfunding makes Bahrain’s solution as flexible as any you would find in the UK, Singapore, Dubai or Malaysia.

For example, both local and global SMEs can raise funds; standardised declaration forms make reporting easy and consistent; and platform operators (companies that bring entrepreneur borrowers and ‘crowd’ lenders together) may – subject to additional licensing – offer lending or equity-based investment.

And, while the conventional and Shari’a-compliant regulations are broadly the same, Bahrain is the first GCC country to have issued stand-alone Shari’a-compliant directives, providing reassurance of lending in accordance with Shari’a rules.

Regulatory quality is key

So, why is Bahrain’s crowdfunding offering so convincing? Primarily, it’s down to the quality of our single integrated regulator.

The CBB is recognised as an advanced financial supervisor with a proven record for creating clear, accessible regulations for business that promote integrity, accountability and transparency, while providing the highest levels of protection for investors, entrepreneurs and fundraisers.

But as well as being robust and rigorous, it is inventive: recently the CBB introduced MENA’s only onshore Regulatory Sandbox, which has already attracted its first two entrants – Tramonex, a London-based forex cash management solution, and NOW Money, a Dubai-based account and remittance service. A virtual space for entrepreneurs to safely test FinTech technology, it also ensures that products and businesses who want to operate in Bahrain are sound.

Three further factors make Bahrain compelling for crowdfunding. In parallel with unrivalled 40-plus years’ experience as a regional financial services centre, we are also a global leader in Islamic finance, with the region’s highest concentration of funds and institutions, and a strong reputation for raising funds. What is more, businesses can operate in a cost-competitive environment: it’s around 30% cheaper to run a financial services firm here than in Dubai or Qatar.

Commenting on the new regulations, Mr. Khalid Hamad, Executive Director at the CBB, said: “We expect Bahraini entrepreneurs to benefit from the global crowdfunding trend, which provides a viable alternative to bank financing. In particular, the CBB is keen to see Bahrain dominate the Shari’a compliant financing-based crowdfunding market in the region. The demand for Shari’a compliant financing is already high and we expect to see it reflected in the crowdfunding market as well.”

Bahrain’s crowdfunding model

MIT Innovation Forum promotes pan-Arab innovation

Posted on October 4, 2017August 27, 2020 by edbuser

If proof were needed that Bahrain is pre-eminent in ICT across the Middle East, a special event in Manama recently provided it.

MIT Enterprise Pan Arab held its first-ever Innovation Forum for the Arab world at the Four Seasons Hotel on 27th-28th September. It was hosted in partnership with the EDB and Investcorp, a leading provider of alternative investment products for high-net-worth private and institutional clients.

The aim of the forum was to foster a culture of innovation, entrepreneurship and technology adoption. As can be seen below, it covered a wide range of emerging technology trends, including cloud, autonomous driving, cybersecurity, AI and Blockchain.

More than 2,000 MENA influencers attended from disruptive start-ups, researchers, entrepreneurs and investors, to CEOs, CTOs and CIOs from world-leading tech companies. Policy-makers and the media were also there.

Business-friendly hub

Another trend on which the forum focused was FinTech. Bahrain is fast becoming a regional FinTech hub, with significant strengths in card and mobile payments, and with entrepreneurs eager to pursue opportunities from our business-friendly commercial environment.

So, why did MIT choose Bahrain as the natural venue for the Innovation Forum? The answer: our powerful digital economy. The Kingdom itself is ranked in leading surveys as one of the world’s freest economies, and this applies directly to digital.

Liberal and progressive

We offer the Middle East’s most liberal ICT infrastructure, with a progressive regulatory framework and policies, backed by a multi-award-winning regulator (as voted by CommsMEA). With a thirst for new technology and mobile and broadband penetration that outstrips the rest of the GCC, Bahrain is in the global top ten for network readiness, ICT use and development, as well as being first in MENA.

It is little wonder, then, that ICT entrepreneurs and start-ups increasingly love being here.

Speaking before the event, Hala Fadel, Chairperson of the MIT Enterprise Forum Pan Arab stressed the importance of this forum, which will constitute a unique occurrence especially in terms of the discussed topics as well as the rich crowd of tech experts, innovators and entrepreneurs this event brings together from all over the world. She said: “The forum aspires to gather the brightest minds in the academic, corporates, and startup communities in an effort to glean insight into the innovations that shape the world economy, which are the product of both global and regional businesses.”

Speakers and scheduleThe forum heard from regional and international speakers on the latest technology and scientific research.

Speakers

H.E. Khalid Al Rumaihi, Chief Executive of the EDB
Hazem Ben-Gacem, Managing Director, Corporate Investments – Europe
Paul Papadimitriou, CEO, Founder, Intelligencr
Dr. Denis Batalov, Senior Solutions Architect, Amazon Web Services Artificial Intelligence
Niall Clauberg, Head of Financial Services Middle East, Salesforce
Mark Whelan, GCC Regional Territory Manager, Salesforce
Ghareeb Saad, Senior Security Researcher, Kaspersky
Dr. Georges Aoude, Co-Founder & CEO, Derq
Amira Rashad, Co-Founder & CEO, BulkWhiz
John Defterios, Emerging Markets Editor, CNN
Saqr Ereiqa, Senior Managing Consultant, IBM
Emad Kashgari, Western Region Manager, Badir Program for Incubators and Accelerators
Areije Alshakar, Vice President, Bahrain Development Bank
Hadya Fathalla, Executive Director, C5a/Executive Director, Peregrine Foundation
Yasin Aboudaoud, Chief Development Officer, Brinc
Julio Alejandro, Director, Jada Consulting

Schedule

Day 1:

Keynote: AI & disruption

Talk: Cybersecurity. Beyond quantum: securing your systems for tomorrow

Panel: Cybersecurity. How to protect your brand, product and data online and offline

Panel: Autonomous driving. So close yet so far: when will machines finally take over our cars?

Day 2:

Keynote: How to keep AI from slipping beyond our control

Fireside chat: Artificial intelligence

Talk: Cloud computing

Fireside chat: cloud computing and data. The challenges with cloud data for medium sized companies

Panel: FinTech

Panel: Lessons learned from start-up accelerators. The challenges facing tech start-ups in the region

Bahrain International Investment Park and Bahrain Logistics Zone attract more than USD 200 million in six months

Posted on October 4, 2017August 27, 2020 by edbuser

During the first half of 2017, Bahrain attracted an astonishing volume of inward investment to its manufacturing and logistics sector. Most of these investments have chosen Bahrain International Investment Park and Bahrain Logistics Zone to be their regional base. This large-scale commitment is expected to create around 1,000 new local jobs within three years.

Manufacturing output in Bahrain has soared by 80% over the last ten years, while the manufacturing and logistics sector is now the third-largest contributor to the Kingdom’s economy, accounting for 14.4% of 2016 GDP.

But the recent increase in growth comes from companies wanting to use Bahrain to access economic and commercial opportunities across the USD 1.6 trillion GCC (Gulf Cooperation Council).

Why companies choose Bahrain

Manufacturing and logistics businesses prefer Bahrain for a wide variety of reasons. Here are the top few.

Best market access. Bahrain is close to key Gulf export markets by road, sea and air – speeding goods to their destination and saving money.

Business freedom. A liberal regulatory environment and minimal bureaucracy mean that foreign companies can operate without exchange controls or free-zone restrictions. All of which helps to make Bahrain MENA’s freest economy,

Low costs. Industrial operating costs are the GCC’s lowest, with set-up, transport, employment and port handling all highly competitive. Corporate and personal taxation hardly exists.

Superb infrastructure. Bahrain offers the Gulf’s shortest transit between entry point (such as Khalifa bin Salman Port) and Bahrain Logistics Zone (BLZ). Everything is integrated and continuously upgraded – including ongoing expansion and modernisation of Bahrain International Airport to increase cargo capacity to one million tonnes, work to build a second road link to Saudi Arabia, and streamlined procedures on the existing King Fahd Causeway.

Excellent human capital. Manufacturing and logistics companies can recruit locally from a highly educated and skilled bilingual workforce. Our people are motivated and commercially focused – so they hit the ground running.

H.E. Khalid Al Rumaihi, Chief Executive of the EDB, said: “The economic transformation taking place in the GCC is creating exciting opportunities for manufacturing companies – and we are delighted that many are choosing Bahrain as a location from which to access them.

“Further investments, such as the ongoing modernisation and expansion of Bahrain International Airport, the building of a second causeway to Saudi Arabia and additional regulatory reforms are expected to make it even easier for businesses looking to access the region from Bahrain and we look forward to welcoming more firms in the coming years.”

Who’s been investing?Mondelēz, the world’s second largest food and beverage company, set up a state-of-art factory in Bahrain in 2008 to produce 60,000 tonnes of Kraft cheese and Tang products a year. In 2017 it built a biscuit plant to meet rising demand in the Middle East and Africa that will generate 200 jobs.

Armada, a leading GCC textile and fashion distributor, has begun construction of its regional distribution centre in BLZ. It has invested more than USD 50 million and will create 400 direct jobs. Other significant investments in 2017 include Agility ECU Worldwide, SMSA Express, Elsewedy Electric, Mennekes, Sonmez Metal, Tsinx Environment Technology, Almajdouie Holding, Lals Group, Kuehne+Nagel, Sandvik and Agility Logistics.

Avaya helps accelerate Bahrain’s digital transformation

Posted on October 4, 2017 by edbuser

Avaya, a recognised technology leader in unified communications, collaboration, contact centres and networking, with more than 9,700 people and 7,000 channel partners worldwide, is opening a new office in the Bahrain World Trade Centre, Manama.

The company has grown swiftly in Bahrain as organisations move to reduce costs, boost productivity and enhance customer and team engagement. It has strategic partnerships with some of Bahrain’s most innovative companies including Batelco, VIVA Bahrain, Fakhro Electronics and Malcom IT services, with solutions deployed in prominent private- and public-sector businesses such as BAPCO, Idbar Bank, Mesk Holding and YBA Kanoo.

Via its new office, Avaya will be able to meet increasing demand for next-generation communications and collaboration solutions, as well as for emerging technologies that range from cloud computing, the Internet of Things (IoT) and artificial intelligence (AI).

Commitment, confidence and competitiveness

More than that, Avaya is overtly strengthening its commitment to the rapid digital transformation of Bahrain’s economy, and the opportunities this provides for investors.

Indeed, it’s not surprising that the company has such confidence in Bahrain’s ICT industry. The sector is mature and competitive. At more than 10% annual growth, it is projected to reach USD 2.7 billion as soon as 2020.

Competitiveness has been driven not simply by Bahrain’s superb market access, but by progressive reforms and a pro-business stance. Bahrain was the first Gulf state to liberalise its telecoms market, in 2004, and today has the Middle East’s most open ICT infrastructure, regulatory framework and policies. Further: technical leadership is particularly fuelled by innovation in financial services, including FinTech.

Highly ranked for ICT

The Bahrain government has been very active in promoting digital access and engagement, so that there are now more than 200 digital services for citizens and business. As a result, Bahrain ranks first in MENA for e-government development (United Nations 2016), ICT use (World Economic Forum 2016) and ICT development (International Telecommunication Union 2016), and is in the world’s top 30 for network readiness.

Significant investment started early and continues, especially in cloud development and fibre-optic networking, enabling Bahrain’s fast-expanding ICT ecosystem to maximise commercial potential.

In addition, as Avaya has discovered, Bahrain’s people are crucial to delivering its cloud-based solutions and professional services. The company can recruit locally from a highly-skilled bilingual workforce that’s exceptionally qualified and experienced – and growing in size by around 3% a year.

As Nidal Abou-Ltaif, President, Europe, Middle East & Africa and Asia Pacific, Avaya, says: “The Kingdom’s efforts to create an open and favourable business environment have made this country an attractive centre for business while encouraging investments to diversify the economy. Our priority is enabling our customers’ success. With the opening of this new office, we aim to provide them and our partners with easy access to our products, services and solutions to support and enhance their digital strategies.”

Bahrain showcases more than USD 11 billion of mixed-use projects

Posted on October 4, 2017March 30, 2023 by edbuser

Bahrain demonstrated the sheer investment potential of its real estate sector at the 16th Cityscape Global, with projects worth more than USD 11 billion.

Held at Dubai World Trade Centre on 11th-13th September, this was the perfect venue for the Bahrain Economic Development Board (EDB) and its development partners: Cityscape is the Middle East’s largest real estate exhibition for investors, developers, architects, designers and senior executives from all over the world.

And Bahrain didn’t disappoint. Five major projects were on show – Bahrain Bay, Bahrain Marina, Diyar Al Muharraq, Canal View and Durrat Al Bahrain.

Proving the potential

Real estate in Bahrain is expanding substantially through population growth, higher disposable income and interest from GCC countries, especially Saudi Arabia.

Demand is increasing in residential, retail and hospitality, and is being boosted by rising tourist numbers and rising gaps in the availability of affordable housing.

The sector is becoming increasingly vital to Bahrain’s economy: in 2016 real estate and business activities contributed 3.9% real GDP. Real estate transactions grew by 15.2% in the first quarter of 2017, with YoY sector growth reaching 4.5% in the same period – to the tune of USD 1.7 billion.

Why Bahrain is so attractive

Bahrain provides four principal reasons to invest in real estate.

Exceptional visitor growth. Tourist numbers are rising significantly, up 14% in the first half of 2017 vs. the same period in 2016, driving demand across the sector. In particular, hotel revenues alone are expected to top USD 1 billion by 2018.

Major investment. Bahrain has a USD 32 billion pipeline of projects in public- and private-sector infrastructure including more than USD 10 billion in tourism projects that will benefit real estate. These include expansion of Bahrain International Airport to handle even greater passenger numbers and fleet modernisation of the Kingdom’s national carrier, Gulf Air – as well as investment in hospitality and retail.

Liberal commerce. The Kingdom is committed to business freedom, so that investors realise maximum value. Bahrain is the only Gulf state in which GCC and non-GCC developers can benefit from 100% foreign ownership. For non-GCC investors, there are allocated investment zones where 100% ownership is allowed. It is also possible to repatriate all capital, profits and dividends.

In addition, Bahrain is implementing ‘soft’ infrastructure, such as smart legislation and new regulations specifically designed to support real estate growth.

Excellent rental yields. Our rental market offers one of the GCC’s highest gross yields, at nearly 7%, giving valuable and stable cashflow.

H.E. Khalid Al Rumaihi, Chief Executive of the EDB, commented on Cityscape Global: “Recent figures demonstrate the resilience of Bahrain’s real estate sector and highlight the increasing demand for housing, not only in the Kingdom but across the wider region. Strong growth in this sector has been supported by the implementation of economic and legislative reform and forward-thinking policies such as the public private partnership model by the Ministry of Housing and the recently issued real estate law.”

The fabulous fiveResidential, hospitality, retail and FB

Bahrain Bay

A USD 2.5 billion waterfront district covering 45 km2, Bahrain Bay provides vibrant residential, commercial and retail spaces. It is close to important facilities such as the Bahrain World Trade Centre and International Airport.

Bahrain Marina

A waterfront coastal destination in the centre of Manama, Bahrain Marina offers residential, entertainment, leisure and hospitality over 31,000 m2 – and, naturally, an exclusive yacht club.

Diyar Al Muharraq

A progressive urban development on 12 reclaimed islands, Diyar Al Muharraq boasts more than 40 km of waterfront, with residential, hospitality and retail, including the iconic Chinese-themed Dragon City mall.

Residential, seafront and gated communities

Canal View

This provides fine living next to a 1.6 km canal in the heart of Dilmunia Island health and wellbeing resort. Canal View offers residential, office, retail and hospitality, as well as tranquil private gardens.

Durrat Al Bahrain

Dubbed ‘urban living, island style’, Durrat Al Bahrain sports luxury hospitality, spa resorts, executive apartments and offices. Built on 15 islands and with 60 km of waterfront, it will ultimately be home to 60,000 people.

Amazon Web Services Announces the Opening of Data Centers in the Middle East by early 2019

Posted on September 25, 2017August 27, 2020 by edbuser

New AWS Infrastructure will enable customers to run workloads in the Middle East and serve end-users across the region with even lower latency

SEATTLE- Sept. 25, 2017— Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), today announced that it plans to open an infrastructure region in the Middle East by early 2019. The new AWS Middle East (Bahrain) Region will consist of three Availability Zones at launch. Currently, AWS provides 44 Availability Zones across 16 infrastructure regions worldwide, with another 14 Availability Zones, across five AWS Regions in China, France, Hong Kong, Sweden, and a second GovCloud Region in the US expected to come online by the end of 2018. AWS today also announced it will launch an AWS Edge Network Location in the United Arab Emirates (UAE) in the first quarter of 2018. This will bring Amazon CloudFront, Amazon Route 53, AWS Shield, and AWS WAF to the region and adds to the 78 points of presence AWS has around the world. For more information on AWS’s global infrastructure, go to https://aws.amazon.com/about-aws/global-infrastructure/.

“As countries in the Middle East look to transform their economies for generations to come, technology will play a major role, and the cloud will be in the middle of that transformation,” said Andy Jassy, CEO, Amazon Web Services, Inc. “Some of the most gratifying parts of operating AWS over the last 11 years have been helping thousands of new companies get started, empowering large enterprises to reinvent their customer experiences, and allowing governments and academic institutions to innovate for citizens again. We look forward to making this happen across the Middle East.”

This announcement has been welcomed by political leaders in Gulf Cooperation Council (GCC) states. Countries across the Middle East are looking to innovate, grow their economies, and pursue their vision plans, such as Saudi Vision 2030, UAE Vision 2021, and Bahrain Vision 2030, and cloud technology will be key in helping them achieve this. His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince of Bahrain, First Deputy Prime Minister, and Chairman of the Bahrain Economic Development Board, commented, “Today’s announcement is a significant moment for Bahrain and the region. For the Kingdom, the expansion of regional cloud capacity builds upon a business environment that is already driving innovation and entrepreneurship, using technology to accelerate economic diversification in Bahrain. Through improved efficiencies, access to new career opportunities, and helping to enhance the delivery of government services, this marks further realization of the principles of sustainability, fairness, and competitiveness that form the core of Bahrain’s 2030 Vision.”

H.E. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board, said of the news, “AWS’s commitment to expanding its presence into the Middle East and North Africa (MENA) region, from Bahrain, is a major enabler for technology and data-driven business across the GCC. This will benefit global corporates, SMEs, entrepreneurs, and governments alike. The ability to store and share data at speeds the Gulf has never experienced before has the potential to help companies gain competitive advantage, allowing them to compete more effectively at a global level. Amazon Web Services is delivering the Middle East a world class service. With such a young, technologically adept, and growing population, the Gulf is well positioned to drive innovation in mobile applications and digital services. I am very eager to see how our region’s entrepreneurs will make use of this exciting opportunity.”

AWS Investing in the Middle East

AWS is growing its presence in the Middle East bringing offices, staff, education, training, startup support, and other investments to the region. In January 2017, AWS opened offices to serve its rapidly growing customer base with a presence in Dubai, UAE and Manama, Bahrain. These offices have been established with teams of account managers, solutions architects, partner managers, professional services consultants, support staff, and various other functions for customers to engage with AWS.

Another investment AWS is making for its customers in the Middle East, and around the world, is to run its business in the most environmentally friendly way. An important criteria in launching the AWS Middle East (Bahrain) Region is the opportunity to power it with renewable energy. AWS chose Bahrain in part due to the country’s focus on executing renewable energy goals and its proposal to construct a new solar power facility to meet AWS’s power needs. The Bahrain Electricity and Water Authority expects to bring the 100 MW solar farm online in 2019, making it the country’s first utility-scale renewable energy project. For more information on AWS’s commitment to sustainability, go to https://aws.amazon.com/about-aws/sustainability/.

AWS also announced that it is supporting the advancement of technology education across the Middle East making AWS Training and Certification programs available to customers. In the education sector, AWS is supporting the development of technology and cloud computing skills at local universities through the AWS Educate program, providing students and educators with the resources needed to accelerate cloud-related learning. This program is now available for students attending institutions such as King Abdullah University of Science and Technology in Saudi Arabia, the Higher Colleges of Technology in the UAE, Bahrain Polytechnic, University of Bahrain, as well as Oman College of Management and Technology, the Jordan University of Science and Technology, and many others across the region.

To support the growth of new business, AWS works with incubators and accelerators in the Middle East to provide resources to startups through the AWS Activate program. In Saudi Arabia, AWS works with the Badir Program for Technology Incubators and Accelerators at King Abdulaziz City for Science and Technology (KACST) to provide startups with access to technology resources as well as expert advice, education, and training to help promote Saudi youth entrepreneurship and grow new businesses in the Kingdom. To help new businesses across the Middle East go global, AWS also works with a number of local and international accelerators and incubators active in the region such as AstroLabs in the UAE, Cloud 10 Scalerator in Bahrain, as well as 500 Startups, Startupbootcamp, and Techstars, providing training, AWS credits, in-person technical support, and other benefits.

Middle Eastern Organizations Increasingly Moving to AWS

Organizations across the Middle East – in UAE, Saudi Arabia, Kuwait, Jordan, Egypt, Bahrain, and other countries – are increasingly moving their mission-critical applications to AWS. Startups in the region choosing AWS as the foundation for their business include Alpha Apps, Anghami, Blu Loyalty, Cequens, DevFactory, Dubizzle, Fetchr, Genie9, Mawdoo3.com, Namshi, OneGCC, Opensooq.com, Payfort, Tajawal, and Ubuy as well as Middle Eastern Unicorn Careem, the leading ride-hailing service in the MENA region. Careem runs all of its operations on AWS and over the past five years has grown 10 times its current size each year. “It is great news that AWS is opening a Region in the Middle East,” said Magnus Olsson, chief experience officer and co-founder of Careem. “We have been all-in on AWS since we launched in 2012 and using the scalability of the cloud has helped us to cope with rapid growth. After starting in Dubai, we now serve over 12 million commuters in 80 cities across the Middle East and North Africa, including Turkey and Pakistan – this would not have been possible without AWS. The new AWS infrastructure Region in the Middle East gives us the opportunity to experiment with new Internet of Things (IoT) technologies that, in the future, will give us the ability to run a fleet of self-driving Careem cars comfortably and safely taking passengers to their destinations.”

Some of the Middle East’s most historic and established enterprises are moving mission critical applications to AWS. Enterprises such as Actel, Al Tayer Group, Batelco, flydubai, Hassan Allam, Silah Gulf, Union Insurance, and the United Arab Shipping Company are using AWS to drive cost savings, accelerate innovation, and speed time-to-market. One successful business that used AWS to grow is eCommerce provider SOUQ.com. “AWS has been key to our success throughout our journey of exponential growth in the MENA region”, said Ronaldo Mouchawar, CEO and Co-Founder of SOUQ.com. “Businesses in the region need robust technologies to both scale rapidly and provide world class service to their customers. With innovation being the main focus on the region’s national agenda, the advent of the world’s largest provider of cloud computing in the region is great news for everyone. This will help support the growing demand for cloud technologies as well as accelerate business expansions and success, regionally and around the world.”

Another enterprise using AWS is Middle East Broadcasting Center (MBC), the largest private media company in the Middle East, delivering Arab language content to over 150 million people across the Middle East and North Africa. “AWS has been critical in our digital transformation initiatives,” said Joe Igoe, MBC’s Group Director of Technical Operations. “Knowing we will have AWS infrastructure close to our viewers is invaluable for us. AWS has helped us speed up innovation and rapidly expand into a wider range of scalable and reliable digital services, such as our Video on Demand platform, Shahid.net. During the holy month of Ramadan, TV viewership spikes dramatically. This year, we successfully scaled our online platform to support a massive increase in traffic and delivered hundreds of thousands of concurrent video streams and dozens of petabytes of content to our viewers.”

Government organizations are also working with AWS to lower costs and better serve citizens in the region, including the Bahrain Institute of Public Administration which has moved their Learning Management System to AWS, reducing costs by over 90 percent. Another government organization using AWS is the Kingdom of Bahrain Information & eGovernment Authority (iGA). The iGA is in charge of moving all government services online and is responsible for ICT governance and procurement for the Bahrain government. Earlier this year the iGA launched a cloud first policy, requiring all new government ICT procurement to evaluate cloud-based services first. Mohamed Al Qaed, Chief Executive of Kingdom of Bahrain iGA said of the announcement, “AWS forms the backbone of our digital government initiatives so the news that an AWS Region is coming to our country is warmly welcomed by us. Through adopting a cloud first policy, we have helped to reduce the government procurement process for new technology from months to less than two weeks. We are in the process of migrating 700 servers with more than 50 TB of data to AWS with the goal of decommissioning our hosting platform by the end of 2017. We have also started to migrate systems of national significance, such as our Bahrain Data Locator, and supporting other entity system migrations, like the Ministry of Education LMS that has 149,000 users, with more planned on the way. As we move more mission critical workloads to AWS, we look forward to even greater efficiencies and being able to complete our mission to become eGovernment & ICT Pioneers.”

In addition to established enterprises, government organizations, and rapidly growing startups, AWS also has a vibrant AWS Partner Network (APN) across the Middle East, including APN Partners that have built cloud practices and innovative technology solutions on AWS. APN Consulting and Technology Partners in the Middle East are helping customers to migrate to the cloud include Al Moayyed Computers, Batelco, C5, du, DXC Technology, Falcon 9, Infonas, Integra Technologies, ITQAN Cloud, Human Technologies, Kaar Technologies, Navlink, Redington, Zain, and many others. For companies looking to join the APN or for the full list of members please visit: https://aws.amazon.com/partners/.

About Amazon Web Services

For 11 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 90 fully featured services for compute, storage, networking, database, analytics, application services, deployment, management, developer, mobile, Internet of Things (IoT), Artificial Intelligence (AI), security, hybrid and enterprise applications, from 44 Availability Zones (AZs) across 16 geographic regions in the U.S., Australia, Brazil, Canada, China, Germany, India, Ireland, Japan, Korea, Singapore, and the UK. AWS services are trusted by millions of active customers around the world monthly — including the fastest growing startups, largest enterprises, and leading government agencies — to power their infrastructure, make them more agile, and lower costs. To learn more about AWS, visit https://aws.amazon.com.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about and follow @AmazonNews.

Bahrain to showcase innovation at technology week

Posted on September 24, 2017August 27, 2020 by edbuser

Programme to focus on impact of Fintech, artificial intelligence, cybersecurity and cloud computing on the future of the GCC

The Bahrain Economic Development Board (EDB) today announced the Kingdom will host the Technology Week from 24 – 28 September 2017, designed to showcase and dissect how disruptive technologies and digital trends are revolutionising global industry and the regional economy.

With participants from across government, global and regional private sectors, regulatory bodies and the region’s top start-up talent, the Technology Week programme will explore the impact of Fintech, artificial intelligence, cybersecurity and cloud computing on the future of the GCC.

The TechnologyWeek will be anchored by two major ICT and entrepreneurship events – the Amazon Web Services (AWS) Summit (25 September) and the Innovation Forum, powered by MIT Enterprise Forum Pan Arab (28, 27 September) – alongside a range of other exhibitions, panel discussions and talks by global leaders.

As the cloud computing platform of Amazon.com, the AWS Summit will be the first of its kind in Bahrain, providing the international cloud computing community with a forum to connect and collaborate. The summit will offer businesses the opportunity to learn about AWS technology–one of the leading models of cloud storage infrastructure currently in existence.

Sponsored by the EDB and Investcorp, the Innovation Forum expands on similar themes, bringing together global experts and high-profile business representatives to focus on cutting edge technologies and scientific research.

Commenting on the Technology Week, H.E. Khalid Al Rumaihi, Chief Executive of the EDB said: “The impact of the technology and data revolution is only going to increase and it’s vital that the region gets ahead of the curve.The Technology Week diverse programme reflects Bahrain’s commitment to shaping the discussion on those trends and technologies that will affect our economies in the long-term. In bringing global and regional partners together from across government and the private sector, Technology Week offers a unique opportunity to showcase how technology is driving changes in productivity, business success and the diversification of regional economies.

“Home to the GCC’s leading ICT infrastructure, it is essential that Bahrain continues to foster the kind of innovative technologies and frameworks that have led to world-class companies choosing the Kingdom as their home for regional operations. It is events like Technology Week that allow us to ensure that Bahrain’s digital ecosystem remains world-class.”

As part of the Technology Week activities, Tamkeen will be hosting a Startup Bahrain competition with a total of $75,000 worth of prizes.Startups will have the opportunity to compete and showcase their work for a chance to be crowned as Startup Bahrain Champion and win $50,000 as well as a trip to Web Summit in Lisbon. The competition will also include a $20,000 for runner up and $5000 for people’s choice as the most voted startups on social media. Furthermore, Batelco will offer $3000 worth of prizes for visitors who engage actively on social media via @StartUpBahrain page.

-ENDS-

Notes to editors:

Further information:

Bahrain Economic Development Board

Tel: + 973 1758 9966

Email: Khalid.jamal@bahrainedb.com

Isa.mubarak@bahrainedb.com

About The Bahrain Economic Development Board (EDB)

The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.

Real estate projects worth over US $26 billion in Bahrain’s pipeline

Posted on September 11, 2017August 27, 2020 by edbclient

Manama, 10 September 2017: Bahrain’s real estate sector is witnessing rapid expansion due to growth in demand for residential and retail development. The Bahrain Economic Development Board (EDB)’s economic quarterly report revealed growth in the sector reached 4.5% in the first quarter of 2017, contributing over US $1.7 billion to the economy.

Real estate transactions in Bahrain grew by 15.2% in the first quarter of 2017, reaching a total value of USD $770 million, an 8.1% jump compared to the same quarter in 2016.The retail and hospitality sector also witnessed rapid growth, while the hotels and restaurants sector emerged as the fastest growing sector during the first quarter of this year, recording a 12.3% year-on-year real rate of expansion.

According to statistics published by the Ministry of Housing, the number of residential applications pending allocation of units currently stands at 55,000 and is estimated to grow by 5,000 each year, and are driving the high demand for residential units in the Kingdom. Additionally, the influx of visitors to Bahrain in recent years has also contributed towards a growing demand for tourism and retail facilities. In 2016, the total number of arrivals to Bahrain increased by 6% from 2015 to 12.2 million visitors. The Kingdom welcomed 5.6 million tourists to Bahrain in the first half of the year, according to Bahrain Tourism and Exhibitions Authority (BTEA), representing a 14% increase from the first half of 2016.

Housing developments, both social and private, have increased in recent years and the Kingdom is currently witnessing more than 17 housing projects, which include some private projects. The Kingdom is also home to the Avenues Mall, a 83,700 sqm building to be opened later in the year, as well as other retail developments including Bahrain Marina and mixed-use development areas such as Bahrain Bay and Water Garden City.

Over US$11billion of mixed-use real estate projects will be showcased at the Bahrain Pavilion at Cityscape Global in Dubai. It will feature participation by the Bahrain EDB as well as the five major developers Bahrain Bay, a USD 2.5billion waterfront district; Diyar Al Muharraq, a progressive urban development including the iconic Dragon City; Durrat Al Bahrain, a hallmark island city; Canal View, canalside living at its finest in the heart of Dilmunia and Bahrain Marina, a trendy waterfront development in the heart of Manama.

Commenting on the opportunity for real estate investors in Bahrain and on the participation at Cityscape Global 2017 in Dubai, HE Khalid Al Rumaihi, Chief Executive of Bahrain EDB, said:

“Recent figures demonstrate the resilience of Bahrain’s real estate sector and highlight the increasing demand for housing, not only in the Kingdom but across the wider region. Strong growth in this sector has been supported by the implementation of economic and legislative reform and forward-thinking policies such as the public private partnership model by the Ministry of Housing and the recently issued Real Estate law.

“Cityscape Global is an excellent platform for developers to showcase their world-class projects to interested investors and we think Bahrain has great developments to offer and are pleased to be taking part for the third year in a row.”

Bahrain has a pipeline of large-scale infrastructure projects across a wide range of sectors valued at US$ 32billion, which will support growth within the real estate market and help maintain robust economic growth throughout the Kingdom. In addition to developing the necessary hard infrastructure, Bahrain is implementing soft infrastructure such as smart legislation, enabling investors to realise value from their capital. A new regulation has also been developed in consultation with the private sector to specifically support growth in the Kingdom’s real estate sector.

For further information, please visit Bahrain Pavilion at stand 3F10 from September 11 to September 13 at Dubai World Trade Centre.

[folder-gallery fid=”15″ link=”file” columns=”3″ orderby=”rml” size=”medium”]

-ENDS-

Notes to editors:

About Real Estate Developers participating at Cityscape Global:

Bahrain Bay

Bahrain Bay is a US$2.5 billion luxury mixed-use development strategically located on the fringe of Bahrain’s business district with a master-planned design that combines the azure waterfront around a vibrant neighborhood of residential, commercial, corporate, leisure, retail and public realm all stretching over an area of 450,000 sqm. The project is home to an array of uniquely designed architectural icons such as the Four Seasons Hotel, Arcapita building, AlBaraka Tower, the headquarters of Al Baraka Islamic Bank headquarters and soon to be opened United Tower that will house the Wyndham Grand Hotel. Construction is in full swing on the three tower luxury residential complex “Waterbay“ by Bin Faqih Real Estate Investment Co while on-site work has commenced on “AXA Tower ,“ the new regional offices of AXA Insurance Group. On a parallel level, development of public realm has gained prime focus timing with the completion of upcoming projects and to support Bahrain Bay’s popularity as the choicest venue for community festivals and cultural concerts featuring international artists. The Public Realm will include restaurants, parks, promenades and walkways.

Bahrain Marina

Bahrain Marina, is a mixed-use development that aims to add a new distinctive waterfront to the Kingdom’s pristine coastline in Manama. The new destination will include a five-star hotel, serviced and freehold apartments, waterfront villas, a fully-integrated family entertainment center, cinema complex, boardwalk, marina, yacht club and a recreational waterfront space with dining and retail facilities.

This iconic world-class facility aims to enhance the infrastructure of Bahrain’s tourism sector by 2020.

Durrat Al Bahrain

Durrat Al Bahrain is urban living- island style. As Bahrain’s most inspiring development, Durrat Al Bahrain is considered a landmark development. Located on the south coast of Bahrain, this 21 km² development has been created across a cluster of 15 spectacular islands. It hosts, among its many offerings, beautiful beachfront villas, parks and entertainment precincts, restaurants and a 400-berth marina. Upon completion, it will host executive apartments and offices, luxury hotels and spa resorts and premier retail malls. Durrat Al Bahrain will be the region’s most prominent seaside resort city, putting Bahrain on the global tourism map.

Canal View

The Canal View development is located in Dilmunia Island and covers an area of 13,068 m². The project includes luxury apartments that are a mere walking distance from Dilmunia Mall and are located near Bahrain’s main arterial roads, social infrastructure and the international airport.

Diyar Al Muharraq

Diyar Al Muharraq is one of the most visionary and progressive urban developments in the Kingdom of Bahrain; an all comprehensive, fully integrated modern city best described as a complete society incorporating a strong line-up of projects which include a vast variety of residential and commercial properties, ideal for both personal and investment purposes. Aimed at creating a long term and sustainable township, Diyar Al Muharraq is located on the northern shores of Muharraq and comprises of 7 islands with a total of 10 square kilometers of reclaimed land. Upon completion, Diyar Al Muharraq will encompass over 40 kilometers of waterfront with sandy beaches, and all the elements of a vibrant community ranging extensively from fully equipped educational facilities and schools, medical centres, recreation facilities, shopping malls, expansive parklands, hotels and marinas. Diyar Al Muharraq is to be a first of its kind development, one that aims to offers its occupants a safe haven for the ideal life.

Further information:

Bahrain Economic Development Board

Tel: + 973 1758 9936

Email: communications@bahrainedb.com

About the Bahrain Economic Development Board

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.

For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com .